Monday, July 21, 2008

Please, Mr. Fed, I’m in Financial Distress – Will You Bail Me Out?

The U. S. Treasury along with the Federal Reserve revealed plans to “shore up” those odd-named mortgage outfits known as Fannie Mae and Freddie Mac. Shares have plunged due to losses from their mortgage holdings which posed a very serious threat to their financial survival. --- news information released on July 13, 2008

Here’s the key – get BIG and invest tons and tons of money, getting it from whomever you can convince to go along for the ride! And then when things go sour and the money is leaving you faster than it can be flushed down the toilet, just yell, “Help!”

And guess who will come running? Why the financial “Dynamic Duo” of Washington DC – the Federal Reserve and the U.S. Treasury, of course!

Years ago there were “bail outs” of big companies and since history doesn’t really change in such matters, we are seeing a repeat – only this time it is in the wonderful world of mortgages with two biggies on the verge of going belly up!

News information revealed that the “government is prepared to take all necessary steps to prevent the credit market troubles that started last year from engulfing financial markets and further weakening the economy and housing markets.”

And how about this – the Federal Reserve Bank of New York has been given “authority” to lend those outfits with those odd names the money needed at a rate of 2.25 percent! That’s the present rate paid by commercial banks and what are considered “big’ Wall Street firms!

When was the last time you got a loan at a rate of 2.25 percent? If you have the misfortune of having certain credit cards, you are paying well over 20 percent on unpaid balances. Your vehicle loan is quite a bit above that 2.25 percent level is it not? Although in desperation some manufacturers once in a while bait potential customers in with an offer of 0 percent financing over a number of months. But the price of that gas guzzler is so high that getting that 0 percent is not that much of a bargain in the long run -- especially when you discover it likes its "tea" in huge amounts!

But here’s the point – if you are big enough, when you wallow and begin to sink in financial disaster, just yell and the government will bail you out! But if you a “little guy” as most of us are, and you are trying to deal with financial disaster, don’t go to the government for help – all those people are interested in is the tax money you pay, and if possible, they will scheme somehow to get more out of you in the future!

A couple of things to remember:

First, the government is itself so deeply in debt, that the day will come when it won’t be able to bail out a person who is $1.00 in debt! The national debt is increasing steadily by billions each year – total now is over 9 trillion – that’s a 9 followed by a lot of zeros!

Second, there is good news – the day will also come when government officials in every nation will be dismissed from their positions, because One Who is identified as the King of kings and the Lord of lords will have returned and taken control of the affairs of this present world. Now it will be a bit messy at the time of this transition, but He will get it all settled down and finally, peace will be the order of the day.

You can read all about it in a book called the Bible. Yes, yes, I already know – for some people, to talk like this is to talk like a crazy person who should be put in a padded cell. So it comes down to a choice – did Jesus know what He was talking about when He mentioned quite often that He will return to this earth, or is He simply a deluded fool? What do you say, and how has this impacted your life? Does it make a difference when you wake up in the morning and when you lay your head on the pillow at night?

As for me, He’s the best Friend I have and I’ve know Him personally for over 5 decades. I and some others excitedly look forward to His return and taking control of the chaotic governments and financial systems of this world! In the meantime we seek to carry out His parting command to confront the world with His call to repent of all sin and rebellion and believe on Him as Savior and Lord, the living Son of God. Yes, some of us still believe that command is still in effect -- in spite of what you may have heard in some church circles!

Then Jesus came and spoke to them, saying, "All authority has been given to Me in heaven and on earth. Go therefore and make disciples of all the nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit, teaching them to observe all things that I have commanded you; and lo, I am with you always, even to the end of the age." --- Matthew 28:18-20

Then the seventh angel sounded: And there were loud voices in heaven, saying, "The kingdoms of this world have become the kingdoms of our Lord and of His Christ, and He shall reign forever and ever!" --- Revelation 11:15

No comments: